Magellan Aerospace (TSE:MAL) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Magellan Aerospace Co. (TSE:MAL) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.34 and traded as high as C$36.49. Magellan Aerospace shares last traded at C$36.38, with a volume of 58,305 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MAL. TD Securities increased their target price on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. ATB Cormark Capital Markets lifted their price target on Magellan Aerospace from C$31.00 to C$46.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Finally, TD upped their price target on Magellan Aerospace from C$30.00 to C$37.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Magellan Aerospace presently has a consensus rating of “Buy” and a consensus target price of C$36.00.

Magellan Aerospace Trading Down 3.0%

The firm has a market capitalization of C$2.01 billion, a price-to-earnings ratio of 44.52, a price-to-earnings-growth ratio of -21.36 and a beta of 1.04. The company has a fifty day moving average price of C$32.62 and a 200-day moving average price of C$26.46. The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings data on Monday, May 11th. The company reported C$0.29 earnings per share for the quarter. The firm had revenue of C$285.10 million for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. On average, equities research analysts predict that Magellan Aerospace Co. will post 0.9692308 EPS for the current year.

Magellan Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.05 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Magellan Aerospace’s dividend payout ratio is currently 25.32%.

About Magellan Aerospace

Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.